Tax on Small term capital gain


How person has to calculate tax on small term capital gain? When person need to pay tax?

Regards, Naresh Vatsal

asked Sep 06 '12 at 16:30 by nareshvatsal 111

Thanks Pankaj for answer. I have 2 doubts 1. I am having gain from commdity .So i need to add this gain to my salary income and pay tax. If i am earning from stock , mf ets. Then i dont need to add this to salary income. i need to pay 15% tax on gain. Regards, Naresh Vatsal
(Sep 12 '12 at 17:29) nareshvatsal
Gains from commodity would be speculative business income and not a capital gain. Short term gains from listed stocks (not intraday trading) and mutual fund would be taxed at 15%.
(Sep 12 '12 at 23:12) Pankaj Batra
Once agin thanks Pankaj. I only have 1 doubt. I need to pay tax at the end of Finnacial year. What form i need to use for submitting tax.
(Sep 13 '12 at 10:47) nareshvatsal
In case of speculative business income, ITR4 would be needed. Else for normal short/long term capital gains, ITR2 can be used.
(Sep 13 '12 at 10:49) Pankaj Batra

Short term gains from stocks, equity mutual funds on which STT is paid on transaction is taxable at 15% rate.

Other short term gains are added to taxable income and taxed as per normal slab rates.

answered Sep 06 '12 at 23:08 by Pankaj Batra 5.2k320


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Asked: Sep 06 '12 at 16:30

Seen: 1,481 times

Last updated: Sep 13 '12 at 10:49